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What is unitary state income tax?
How does a unitary state work?
Can foreign corporation income be included in a state's 'unitary combined report'?
When did unitary taxation come under attack?
Sep 26, 2017 · The unitary state income tax is a means by which certain states regulate the collection of income in the form of taxes from companies that do interstate commerce or file consolidated tax returns. While the regulation and requirements vary greatly among states, some generalities may be used to explain the concept.
Apr 8, 2010 · Even though operating in the U.S. through subsidiary corporations, a foreign corporation should not assume that it has no State corporate income tax exposure simply because it may be protected by a United States tax treaty. What is Unitary Combination?
Apr 14, 2015 · The unitary business principle plays an important role not only as a criterion for combined reporting, but also as a touchstone for a state’s ability to tax extraterritorial values.
Combined reporting is a state income tax filing/apportionment methodology whereby a taxpayer’s state tax liability is determined by including the income and factors of the entire unitary business. Includible affiliated entities may be limited to domestic (US) affiliates (known as water’s-edge filing) or may include all affiliates, foreign ...
A unitary state, or unitary government, is a governing system in which a single central government has total power over all of its other political subdivisions. A unitary state is the opposite of a federation, where governmental powers and responsibilities are divided.
Dec 8, 2010 · As the Court recently held, a state may "tax an apportioned share of the value generated by the intrastate and extrastate activities of a multistate enterprise if those activities form part of a ‘unitary business.'" The Court has adopted several tests for determining whether a unitary business exists.
UNITARY CONCEPT. for State Income Tax Purposes. BY DAVID W. JOY AND JO LYNNE KOEHN. The key point in determining the state income tax for a company conducting interstate commerce is how the unitary business concept applies to the computation of taxable income.
